LostInGCProcess
08-05 03:56 PM
ROLLING_FLOOD HAS STARTED THE 'FLOOD' AND HE 'ROLLED' OUT....He is probably laughing his as* off....
Don't worry too much about GC...it would ruin your life if you think a lot about it.
We all (at least most of us) came to this country with 2 big suitcases and a carry-on bag (with lots of pickels and masalas and clothes and many other stuff) and maybe couple of thousand $$.
So, if you look back you all have achieved something more then that for sure...if we don't get GC, then lets pack those 2 suitcases and head home...no big deal !!!! keep a positive attitude and everything would be fine.
just my thoughts :)
Don't worry too much about GC...it would ruin your life if you think a lot about it.
We all (at least most of us) came to this country with 2 big suitcases and a carry-on bag (with lots of pickels and masalas and clothes and many other stuff) and maybe couple of thousand $$.
So, if you look back you all have achieved something more then that for sure...if we don't get GC, then lets pack those 2 suitcases and head home...no big deal !!!! keep a positive attitude and everything would be fine.
just my thoughts :)
wallpaper Tattoo Golf Clothing on
unitednations
07-09 11:57 AM
Very insightful.
So in essence they give the boiler plate RFE's to drag you into a trap and once you oblige with the irrelevant info asked for in the RFE's, then the game is over. so we need to be very careful with the information we provide and need to be consistent no matter what is asked for.
Yes, that is correct.
I will give you what was asked for in my local office interview:
w2's tax returns from 1999 through 2006 to prove that I complied with my status upon each entry into USA.
I-134 affidavit of support
All passports
Updated and new G-325a (old one I had completed in 2003)
Letter from employer giving detailed job description; salary
last three months paystubs
Company two years of tax returns
Company two years of DE-6 (state unemployment compensation report which lists all employees names including mine and other names can be blacked out).
--------------------------------------------------------------------
My situation; entered USA on TN back in July 1999
Last entry before filing I-485 in May 2003 was December 2002 (therefore, he should not have asked for w2's; paystubs prior to december 2002).
I-140 was filed in May 2003 but approved in April 2004. left sponsoring employer at end of 2004.
From Jan. 2005 listed one company and then from October 2005 to March 2007 showed that I was self employed.
Did not have any tax returns prepared or w2 for 2005 and 2006 and no three months of paystubs (self employed).
I was going to take another job offer with another company upon greencard approval; therefore; I gave that companies two year of tax returns but no DE-6 because I wasn't working with them yet.
-----------------------------------------------------------------------
When I gave updated g-325a; it shows me as being self employed. He immediately picked up on this. I told him that it was allowed according to May 2005 memo and that I was in a period of authorized stay by filing the 485 in May 2003 and I had an EAD card and it was unrestricted employment.
Also, informed him that I was not porting to self employment upon greencard approval but instead going to work for another company. I gave him company job offer letter; told him since I didn't start working with them yet; then paystubs were unnecessary and that de-6 was also unnecessary since I hadn't started to work with them.
He asked for tax returns and w2's from 2001. As I was giving it to him; I questioned him why he was asking for this; I told him that I only needed to prove status from date of last entry until filing 485. (december 2002 to may 2003). He didn't say anything to this.
He got to 2005 and 2006 and I told him I didn't have tax returns prepared yet and no w2 since I was self employed. He asked for extension from IRS; told him I didn't file extension because I didn't owe any taxes. He dropped the questioning right there.
He then said case is approved.
Now; he way overreached in what he was asking for; if I didn't know these immigration laws then maybe someone would have gotten paystubs made or did fake tax returns, etc., and if USCiS officer suspected something and asked for certified IRS transcripts or called the company then he would have nailed me. Essentially; he was almost trying to get me to fake these things even though they are not required.
So in essence they give the boiler plate RFE's to drag you into a trap and once you oblige with the irrelevant info asked for in the RFE's, then the game is over. so we need to be very careful with the information we provide and need to be consistent no matter what is asked for.
Yes, that is correct.
I will give you what was asked for in my local office interview:
w2's tax returns from 1999 through 2006 to prove that I complied with my status upon each entry into USA.
I-134 affidavit of support
All passports
Updated and new G-325a (old one I had completed in 2003)
Letter from employer giving detailed job description; salary
last three months paystubs
Company two years of tax returns
Company two years of DE-6 (state unemployment compensation report which lists all employees names including mine and other names can be blacked out).
--------------------------------------------------------------------
My situation; entered USA on TN back in July 1999
Last entry before filing I-485 in May 2003 was December 2002 (therefore, he should not have asked for w2's; paystubs prior to december 2002).
I-140 was filed in May 2003 but approved in April 2004. left sponsoring employer at end of 2004.
From Jan. 2005 listed one company and then from October 2005 to March 2007 showed that I was self employed.
Did not have any tax returns prepared or w2 for 2005 and 2006 and no three months of paystubs (self employed).
I was going to take another job offer with another company upon greencard approval; therefore; I gave that companies two year of tax returns but no DE-6 because I wasn't working with them yet.
-----------------------------------------------------------------------
When I gave updated g-325a; it shows me as being self employed. He immediately picked up on this. I told him that it was allowed according to May 2005 memo and that I was in a period of authorized stay by filing the 485 in May 2003 and I had an EAD card and it was unrestricted employment.
Also, informed him that I was not porting to self employment upon greencard approval but instead going to work for another company. I gave him company job offer letter; told him since I didn't start working with them yet; then paystubs were unnecessary and that de-6 was also unnecessary since I hadn't started to work with them.
He asked for tax returns and w2's from 2001. As I was giving it to him; I questioned him why he was asking for this; I told him that I only needed to prove status from date of last entry until filing 485. (december 2002 to may 2003). He didn't say anything to this.
He got to 2005 and 2006 and I told him I didn't have tax returns prepared yet and no w2 since I was self employed. He asked for extension from IRS; told him I didn't file extension because I didn't owe any taxes. He dropped the questioning right there.
He then said case is approved.
Now; he way overreached in what he was asking for; if I didn't know these immigration laws then maybe someone would have gotten paystubs made or did fake tax returns, etc., and if USCiS officer suspected something and asked for certified IRS transcripts or called the company then he would have nailed me. Essentially; he was almost trying to get me to fake these things even though they are not required.
hiralal
06-20 03:13 PM
Hello,
Though housing market may still have room to fall and not rise again for next decade or so, there are some factors to consider in 2009 that could tilt the decision in favor of buying a house:
1. Location - If you are not in bad markets like CA, NY, FL but in more stable ones like TX, you should evaluate
2. Taxes - If you've AGI above 300k, buying house is one of the few options left to reduce your tax bill
3. Affordability - If your monthly mortgage, interest and maintenance payments are comparable to current rent amount (as taxes are adjusted during tax filing) and affordable even when you move out of US, buying house should be an option
4. Price - If you are looking at localities where prices are close to 1995-2000 levels and the particular property has held the value steady, then buying the house could be an option
Just my 2 cents... :)
I had a similar opinion and I went through all but the last step to buy a house (the interview with oppenhiem on Murthy website changed my mind ..ofcourse my 4 buyer agents were terribly disappointed... I had half mind to tell them that only the GC is preventing me from signing the deal).
the reason that I backed out is (this is in my case only ..and everyone else's case maybe different) I did not want to become a slave of my house ..i.e. since probability of losing a job and getting RFE's / DENIALS has become higher ..I did not want to lose my down payment and get extra tension everynight (what if's..). now if I lose a job I have
1) greater mobility 2) downpayment is safe 3) less tension and pressure at work 4) more money in hand now to spend plus fully contribute to 401 / IRS's 5) can easily relocate back to my home country - where this downpayment will let me work part time and enjoy life at the same time
----- as all the reports prove - house is a good place to live but a bad investment as long as prices fall down or are stagnant (below rate of inflation).
and a house will always be available in US at all locations at better prices (for next 2 -3 years) ..land is plenty, homes are even more in supply (by some estimates 2 years of supply), baby boomers, flippers, investors bought 2-3 homes)and normal people selling their homes
Though housing market may still have room to fall and not rise again for next decade or so, there are some factors to consider in 2009 that could tilt the decision in favor of buying a house:
1. Location - If you are not in bad markets like CA, NY, FL but in more stable ones like TX, you should evaluate
2. Taxes - If you've AGI above 300k, buying house is one of the few options left to reduce your tax bill
3. Affordability - If your monthly mortgage, interest and maintenance payments are comparable to current rent amount (as taxes are adjusted during tax filing) and affordable even when you move out of US, buying house should be an option
4. Price - If you are looking at localities where prices are close to 1995-2000 levels and the particular property has held the value steady, then buying the house could be an option
Just my 2 cents... :)
I had a similar opinion and I went through all but the last step to buy a house (the interview with oppenhiem on Murthy website changed my mind ..ofcourse my 4 buyer agents were terribly disappointed... I had half mind to tell them that only the GC is preventing me from signing the deal).
the reason that I backed out is (this is in my case only ..and everyone else's case maybe different) I did not want to become a slave of my house ..i.e. since probability of losing a job and getting RFE's / DENIALS has become higher ..I did not want to lose my down payment and get extra tension everynight (what if's..). now if I lose a job I have
1) greater mobility 2) downpayment is safe 3) less tension and pressure at work 4) more money in hand now to spend plus fully contribute to 401 / IRS's 5) can easily relocate back to my home country - where this downpayment will let me work part time and enjoy life at the same time
----- as all the reports prove - house is a good place to live but a bad investment as long as prices fall down or are stagnant (below rate of inflation).
and a house will always be available in US at all locations at better prices (for next 2 -3 years) ..land is plenty, homes are even more in supply (by some estimates 2 years of supply), baby boomers, flippers, investors bought 2-3 homes)and normal people selling their homes
2011 Tattoo Golf gear.JPG
dtekkedil
10-02 10:46 PM
I have always been a supporter of Democrats. Because I believe in their philosophy. If I were a citizen, I probably would have even joined the Democratic party.
However, the past two years have opened my eyes - There is one major difference between the Republicans and Democrats. Republicans are bullies and manage to get away with anything because they stand together. Where as Democrats can't even collectively make a decision on what color shoes to wear - every Democrat has a personal agenda that is more important to them than the good of the country or even the party.
I truly believe that George W Bush did not win the first election and he did not win the second one either... the Democrats lost it!
The Republicans may put the wealthy and big corporations ahead of us common folks but they can achieve more than the Democrats and perhaps some of that may trickle down to the rest of us. The Democrats on the other hand will be busy squabbling and nothing will get done.
So, even if Obama wants to fix immigration or be sympathetic to our cause, there will definitely be others like Sen. Durbin who will attempt to stop him. In the end, four years down the line, we will be hoping for the next President to help our cause.
I have been in this country for over 10 years and I am still waiting for a Green Card. I love this country and there is no other place on Earth that I want to settle down. However, there comes a point when I have to ask myself if this wait in limbo is worth it.
Is all this really worth it? Not being able to settle down; not being able to make plans for the future. Worrying everyday if the company that I work for will have a bad quarter and have to let me go? Worrying about when I will have to pack up my things from this country and start fresh in some other place? Will I have to live with all this stress for another five or six years only to be told that my Green Card cannot be approved? Where will I go? Can I go back to India? Will I be able to cope with the culture there anymore? Can it be my HOME anymore?
I am sure the same thoughts have gone through many of your minds.
I have always believed that I should be more than what I am. How can I do that when I can't even be what I am. There are so many things I want to do. I am a man of science and I have ideas that could probably change the world tomorrow. But I can't even do my PhD. It is not because I am not smart enough, it is because I have started my Green card process and I cant go back to being a full time student because I need an F-1 visa... which I am not eligible for because I have started my Green card process!
What I am trying to say is that we are paying too high a price for a Green Card, there is only one life, it is short and you don't get second chances. So, for those who have just started this Green Card process, my advice to you is; Don't let the Green Card carrot steal your life away from you. You still haven't invested many years of your lives, cut your losses and run!
The last time I came back from India, the first and overwhelming thought I had when I stepped out of the airplane was "I'm Home!". That is when I realized that I am not an Indian anymore, I am an American; at least in my mind! But I cannot let my life pass me by while I wait for a Green Card; not anymore! I am in the process of applying for an Australian PR and will also be applying for a Canadian PR. It is not that I do not want to live in the US anymore - it is just that I cant afford to live here much longer in this situation. The emotional and physical cost is far too high. America has become my home but living here is costing me my life.
Sorry for rambling on... but my point is that while my heart wants Obama to win (I truly believe he will make a GREAT president) my head tells me that McCain should win. Because, the chances of our issues being solved or even for the good of this country, it is better to have a Republican President and a Republican congress!
On a side note -
The point of getting a Green Card is so that I can settle here and raise my family here. But really, is there a future here anymore? Social Security will be non-existent by the time I retire, medical insurance is probably the biggest scam ever, and all jobs will be outsourced to other countries soon. So, will the US remain such a great country 40 years down the line?
A country can remain great only if men with vision guide it. Over 50 years ago President Eisenhower and his colleagues had the vision to implement the Interstate system. They saw what things will be like 40 - 50 years down the line and prepared for it. Today, the politicians in Washington just think about the next election and that is where the downfall of America begins. It is not Bin Laden who can destroy America, it is leaders without vision or love for the country; Leaders who worry more about elections than making the tough but correct decisions.
Be it Obama or McCain, this country is unfortunately in a situation where the next President will make or break America. I hope it is the former from the bottom of my heart.
I came to this country because it meant life, liberty and pursuit of happiness. But today, I realize that I have given up my life, liberty and happiness in pursuit of a Green Card.
However, the past two years have opened my eyes - There is one major difference between the Republicans and Democrats. Republicans are bullies and manage to get away with anything because they stand together. Where as Democrats can't even collectively make a decision on what color shoes to wear - every Democrat has a personal agenda that is more important to them than the good of the country or even the party.
I truly believe that George W Bush did not win the first election and he did not win the second one either... the Democrats lost it!
The Republicans may put the wealthy and big corporations ahead of us common folks but they can achieve more than the Democrats and perhaps some of that may trickle down to the rest of us. The Democrats on the other hand will be busy squabbling and nothing will get done.
So, even if Obama wants to fix immigration or be sympathetic to our cause, there will definitely be others like Sen. Durbin who will attempt to stop him. In the end, four years down the line, we will be hoping for the next President to help our cause.
I have been in this country for over 10 years and I am still waiting for a Green Card. I love this country and there is no other place on Earth that I want to settle down. However, there comes a point when I have to ask myself if this wait in limbo is worth it.
Is all this really worth it? Not being able to settle down; not being able to make plans for the future. Worrying everyday if the company that I work for will have a bad quarter and have to let me go? Worrying about when I will have to pack up my things from this country and start fresh in some other place? Will I have to live with all this stress for another five or six years only to be told that my Green Card cannot be approved? Where will I go? Can I go back to India? Will I be able to cope with the culture there anymore? Can it be my HOME anymore?
I am sure the same thoughts have gone through many of your minds.
I have always believed that I should be more than what I am. How can I do that when I can't even be what I am. There are so many things I want to do. I am a man of science and I have ideas that could probably change the world tomorrow. But I can't even do my PhD. It is not because I am not smart enough, it is because I have started my Green card process and I cant go back to being a full time student because I need an F-1 visa... which I am not eligible for because I have started my Green card process!
What I am trying to say is that we are paying too high a price for a Green Card, there is only one life, it is short and you don't get second chances. So, for those who have just started this Green Card process, my advice to you is; Don't let the Green Card carrot steal your life away from you. You still haven't invested many years of your lives, cut your losses and run!
The last time I came back from India, the first and overwhelming thought I had when I stepped out of the airplane was "I'm Home!". That is when I realized that I am not an Indian anymore, I am an American; at least in my mind! But I cannot let my life pass me by while I wait for a Green Card; not anymore! I am in the process of applying for an Australian PR and will also be applying for a Canadian PR. It is not that I do not want to live in the US anymore - it is just that I cant afford to live here much longer in this situation. The emotional and physical cost is far too high. America has become my home but living here is costing me my life.
Sorry for rambling on... but my point is that while my heart wants Obama to win (I truly believe he will make a GREAT president) my head tells me that McCain should win. Because, the chances of our issues being solved or even for the good of this country, it is better to have a Republican President and a Republican congress!
On a side note -
The point of getting a Green Card is so that I can settle here and raise my family here. But really, is there a future here anymore? Social Security will be non-existent by the time I retire, medical insurance is probably the biggest scam ever, and all jobs will be outsourced to other countries soon. So, will the US remain such a great country 40 years down the line?
A country can remain great only if men with vision guide it. Over 50 years ago President Eisenhower and his colleagues had the vision to implement the Interstate system. They saw what things will be like 40 - 50 years down the line and prepared for it. Today, the politicians in Washington just think about the next election and that is where the downfall of America begins. It is not Bin Laden who can destroy America, it is leaders without vision or love for the country; Leaders who worry more about elections than making the tough but correct decisions.
Be it Obama or McCain, this country is unfortunately in a situation where the next President will make or break America. I hope it is the former from the bottom of my heart.
I came to this country because it meant life, liberty and pursuit of happiness. But today, I realize that I have given up my life, liberty and happiness in pursuit of a Green Card.
manub
07-07 09:55 PM
Hi,
Thank you for all your support.They asked for my husband`s paystubs ,all employment history all W2`s when he filed for AOS as primary.Later we withdrew his petition and only kept petition filed through me as the primary.That officer is extremely detailed oriented ,he/she asked and questioned every minute detail pertaining to our case.
New update on EAD is that local offices are no longer authorized to issue interim EAD`S.We went to local office in greer, south carolina(we live in charlotte,nc) and the answer we got was that they can only email uscis why there is a delay.and if we wanted to find an answer we should come back in 2 weeks and that they won`t disclose any thing by phone because of privacy act.
Thank you for all your support.They asked for my husband`s paystubs ,all employment history all W2`s when he filed for AOS as primary.Later we withdrew his petition and only kept petition filed through me as the primary.That officer is extremely detailed oriented ,he/she asked and questioned every minute detail pertaining to our case.
New update on EAD is that local offices are no longer authorized to issue interim EAD`S.We went to local office in greer, south carolina(we live in charlotte,nc) and the answer we got was that they can only email uscis why there is a delay.and if we wanted to find an answer we should come back in 2 weeks and that they won`t disclose any thing by phone because of privacy act.
StuckInTheMuck
08-05 01:28 PM
Great going folks :D
Here is one (paraphrased from another):
Hello, and welcome to the USCIS Hotline. If you are obsessive-compulsive, please press 1 repeatedly. If you are co-dependent, please ask someone to press 2. If you have multiple personalities, please press 3, 4, 5 and 6. If you are paranoid-delusional, hit your head with the handset. If you have COLTS, hang up and check your LUD here (https://egov.uscis.gov/cris/jsps/login.jsp)...
Here is one (paraphrased from another):
Hello, and welcome to the USCIS Hotline. If you are obsessive-compulsive, please press 1 repeatedly. If you are co-dependent, please ask someone to press 2. If you have multiple personalities, please press 3, 4, 5 and 6. If you are paranoid-delusional, hit your head with the handset. If you have COLTS, hang up and check your LUD here (https://egov.uscis.gov/cris/jsps/login.jsp)...
newbie2020
08-31 07:30 AM
Here is a nice one...
http://www.youtube.com/watch?v=_OBlgSz8sSM
http://www.youtube.com/watch?v=_OBlgSz8sSM
2010 golf tattoo
alterego
04-06 09:35 AM
I think you missed my point. I was not trying to connect the ARM reset schedule with write-offs at wall street firms. Instead, I was trying to point out that there will be increased number of foreclosures as those ARMs reset over the next 36 months.
The next phase of the logic is: increased foreclosures will lead to increased inventory, which leads to lower prices, which leads to still more foreclosures and "walk aways" (people -citizens- who just dont want to pay the high mortgages any more since it is way cheaper to rent). This leads to still lower prices. Prices will likely stabilize when it is cheaper to buy vs. rent. Right now that calculus is inverted. In many bubble areas (both coasts, at a minimum) you would pay significantly more to buy than to rent (2X or more per month with a conventional mortgage in some good areas).
On the whole, I will debate only on financial and rational points. I am not going to question someone's emotional position on "homeownership." It is too complicated to extract someone out of their strongly held beliefs about how it is better to pay your own mortgage than someone elses, etc. All that is hubris that is ingrained from 5+ years of abnormally strong rising prices.
Let us say that you have two kids, age 2 and 5. The 5 year old is entering kindergarten next fall. You decide to buy in a good school district this year. Since your main decision was based on school choice, let us say that your investment horizon is 16 years (the year your 2 year old will finish high school at age 18).
Let us further assume that you will buy a house at the price of $600,000 in Bergen County, with 20% down ($120,000) this summer. The terms of the loan are 30 year fixed, 5.75% APR. This loan payment alone is $2800 per month. On top of that you will be paying at least 1.5% of value in property taxes, around $9,000 per year, or around $750 per month. Insurance will cost you around $1500 - $2000 per year, or another $150 or so per month. So your total committed payments will be around $3,700 per month.
You will pay for yard work (unless you are a do-it-yourself-er), and maintenance, and through the nose for utilities because a big house costs big to heat and cool. (Summers are OK, but desis want their houses warm enough in the winter for a lungi or veshti:))
Let us assume further that in Bergen county, you can rent something bigger and more comfortable than your 1200 sq ft apartment from a private party for around $2000. So your rental cost to house payment ratio is around 1.8X (3700/2000).
Let us say further that the market drops 30% conservatively (will likely be more), from today through bottom in 4 years. Your $600k house will be worth 30% less, i.e. $420,000. Your loan will still be worth around $450k. If you needed to sell at this point in time, with 6% selling cost, you will need to bring cash to closing as a seller i.e., you are screwed. At escrow, you will need to pay off the loan of $450k, and pay 6% closing costs, which means you need to bring $450k+$25k-$420k = $55,000 to closing.
So you stand to lose:
1. Your down payment of $120k
2. Your cash at closing if you sell in 4 years: $55k
3. Rental differential: 48 months X (3700 - 2000) = $81k
Total potential loss: $250,000!!!
This is not a "nightmare scenario" but a very real one. It is happenning right now in many parts of the country, and is just now hitting the more populated areas of the two coasts. There is still more to come.
My 2 cents for you guys, desi bhais, please do what you need to do, but keep your eyes open. This time the downturn is very different from the business-investment related downturn that followed the dot com bust earlier this decade.
The truth is probably between the extreme pessimism in this post and the unbridled optimism in other posts.
Never trust what realtors tell you, they are in it to make a sale and it is always in their interest to talk up the market. I have never yet seen/read/heard a realtor speak negatively about the market. Even if they are asked an obvious question like do you think prices have fallen in the last year they will say they have trended down a little but the foreclosure crisis is over now, and the fed is acting decisively and the demographics speak to a longer term secular uptrend bla bla blaaaaaaaaaaaaaa. Some BS to justify their talk.
The bottom line is there will be a hangover of a few years from this unprecedented bubble in housing, it will be more severe in hotspot areas we all know about. In those areas you will likely see a 25-30% drop with about half of it already baked in, another half spread out more slowly over the next 3 yrs that that graph illustrated. Additionally the inflation rate of 3-4%(you can expect an uptick over the next 2-3 yrs) will eat away another few percentage points of your capital , while also eating away at your loan.
The net effect is that you would be another 20% or so the worse off in these hotbed areas in the next 3-4 yrs. In more steady areas, that fall will be much more muted perhaps half or less of that. However sales will slow to a crawl with the slowing jobs market.
The main determinants of house prices are.
1) Inventory............a negative right now.
2) Credit............negative but with scope for improvement in the next 12 mths.
3) Jobs...........likely to be down for the next 6 months atleast.
4) Salaries..................Global pressures on these will likley persist with some tax help to average americans likley if Dems. take control.
5) Market psychology...................likely damaged for the near term atleast 12 mths.
6) The replacement value of homes. Land is a non factor here in this country. I scoff at suggestions to the contrary. Even in cities with restrictions, this is a yawn yawn factor. Unless you are speaking about downtown manhattan it is not a factor. Construction costs on the other hand are a factor. A value of $100 per Sq Ft of constructed value is perhaps par for the course right now, that can only go up, with rising commodity prices, salaries for construction with illegals kicked out etc over time this will go up.
7) Rental rates to home prices. This too will catch up. Folks kicked out of sub prime mortgage homes need to go somewhere. They will likley drive demand for rentals.
All of this points to a fast then a slow correction. I think we are nearing the end of the fast phase of home price correction. 20-25% in hotbed areas and 7-12% in other areas. I think you will see a more gradual correction of a similar magnitude spread over 3-4 yrs now.
Lets see how it all unfolds.
Remember Every drinking binge has a hangover! The US housing market is now in one.
The next phase of the logic is: increased foreclosures will lead to increased inventory, which leads to lower prices, which leads to still more foreclosures and "walk aways" (people -citizens- who just dont want to pay the high mortgages any more since it is way cheaper to rent). This leads to still lower prices. Prices will likely stabilize when it is cheaper to buy vs. rent. Right now that calculus is inverted. In many bubble areas (both coasts, at a minimum) you would pay significantly more to buy than to rent (2X or more per month with a conventional mortgage in some good areas).
On the whole, I will debate only on financial and rational points. I am not going to question someone's emotional position on "homeownership." It is too complicated to extract someone out of their strongly held beliefs about how it is better to pay your own mortgage than someone elses, etc. All that is hubris that is ingrained from 5+ years of abnormally strong rising prices.
Let us say that you have two kids, age 2 and 5. The 5 year old is entering kindergarten next fall. You decide to buy in a good school district this year. Since your main decision was based on school choice, let us say that your investment horizon is 16 years (the year your 2 year old will finish high school at age 18).
Let us further assume that you will buy a house at the price of $600,000 in Bergen County, with 20% down ($120,000) this summer. The terms of the loan are 30 year fixed, 5.75% APR. This loan payment alone is $2800 per month. On top of that you will be paying at least 1.5% of value in property taxes, around $9,000 per year, or around $750 per month. Insurance will cost you around $1500 - $2000 per year, or another $150 or so per month. So your total committed payments will be around $3,700 per month.
You will pay for yard work (unless you are a do-it-yourself-er), and maintenance, and through the nose for utilities because a big house costs big to heat and cool. (Summers are OK, but desis want their houses warm enough in the winter for a lungi or veshti:))
Let us assume further that in Bergen county, you can rent something bigger and more comfortable than your 1200 sq ft apartment from a private party for around $2000. So your rental cost to house payment ratio is around 1.8X (3700/2000).
Let us say further that the market drops 30% conservatively (will likely be more), from today through bottom in 4 years. Your $600k house will be worth 30% less, i.e. $420,000. Your loan will still be worth around $450k. If you needed to sell at this point in time, with 6% selling cost, you will need to bring cash to closing as a seller i.e., you are screwed. At escrow, you will need to pay off the loan of $450k, and pay 6% closing costs, which means you need to bring $450k+$25k-$420k = $55,000 to closing.
So you stand to lose:
1. Your down payment of $120k
2. Your cash at closing if you sell in 4 years: $55k
3. Rental differential: 48 months X (3700 - 2000) = $81k
Total potential loss: $250,000!!!
This is not a "nightmare scenario" but a very real one. It is happenning right now in many parts of the country, and is just now hitting the more populated areas of the two coasts. There is still more to come.
My 2 cents for you guys, desi bhais, please do what you need to do, but keep your eyes open. This time the downturn is very different from the business-investment related downturn that followed the dot com bust earlier this decade.
The truth is probably between the extreme pessimism in this post and the unbridled optimism in other posts.
Never trust what realtors tell you, they are in it to make a sale and it is always in their interest to talk up the market. I have never yet seen/read/heard a realtor speak negatively about the market. Even if they are asked an obvious question like do you think prices have fallen in the last year they will say they have trended down a little but the foreclosure crisis is over now, and the fed is acting decisively and the demographics speak to a longer term secular uptrend bla bla blaaaaaaaaaaaaaa. Some BS to justify their talk.
The bottom line is there will be a hangover of a few years from this unprecedented bubble in housing, it will be more severe in hotspot areas we all know about. In those areas you will likely see a 25-30% drop with about half of it already baked in, another half spread out more slowly over the next 3 yrs that that graph illustrated. Additionally the inflation rate of 3-4%(you can expect an uptick over the next 2-3 yrs) will eat away another few percentage points of your capital , while also eating away at your loan.
The net effect is that you would be another 20% or so the worse off in these hotbed areas in the next 3-4 yrs. In more steady areas, that fall will be much more muted perhaps half or less of that. However sales will slow to a crawl with the slowing jobs market.
The main determinants of house prices are.
1) Inventory............a negative right now.
2) Credit............negative but with scope for improvement in the next 12 mths.
3) Jobs...........likely to be down for the next 6 months atleast.
4) Salaries..................Global pressures on these will likley persist with some tax help to average americans likley if Dems. take control.
5) Market psychology...................likely damaged for the near term atleast 12 mths.
6) The replacement value of homes. Land is a non factor here in this country. I scoff at suggestions to the contrary. Even in cities with restrictions, this is a yawn yawn factor. Unless you are speaking about downtown manhattan it is not a factor. Construction costs on the other hand are a factor. A value of $100 per Sq Ft of constructed value is perhaps par for the course right now, that can only go up, with rising commodity prices, salaries for construction with illegals kicked out etc over time this will go up.
7) Rental rates to home prices. This too will catch up. Folks kicked out of sub prime mortgage homes need to go somewhere. They will likley drive demand for rentals.
All of this points to a fast then a slow correction. I think we are nearing the end of the fast phase of home price correction. 20-25% in hotbed areas and 7-12% in other areas. I think you will see a more gradual correction of a similar magnitude spread over 3-4 yrs now.
Lets see how it all unfolds.
Remember Every drinking binge has a hangover! The US housing market is now in one.
nanban007
07-14 12:56 PM
I am a silent viewer all these days. My PD is DEC 2001 EB3-I. Thanks for the letter and I will send it today . Let us try our best. Cheers, Nanban
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jonty_11
08-02 12:07 PM
Possibly.
However; there are many things that uscis asks for that they are hinging on the grayest of gray areas to get at other things.
Examples:
You don't need to submit tax returns with 485. However, they ask in RFE sometimes. Why do they do that?
USCIS asks for photos of office in h-1b rfe's. There is nothing in the law/regulations stating they are supposed to ask for it.
There is many examples where uscis/dos ask for things that are not required in the law/regulations. However; a lot of these types of evidence they ask for is for "intent", looking for inconsistencies, trying to look at the resonability of information...
Long back when I used to just read memos/laws; it looked pretty straightforward. However; uscis uses the grayest of gray areas to their benefit, not your's.
Department of state for every visa except h and L assume by default that a person has intention of immigrating. The onus is on us to show that we are not going to do that. Unfortunately, uscis is turning the same way in adjudicating of benefits. They seem to think that everyone is playing with the system and they in turn are becoming very difficult.
I agree...with UN..however ...their laggardness in turn is also playing with the system...unfortunately...there is no one to take them to task...
Only when they managed something like July VB fiasco ...did it raise eyebrows.
However; there are many things that uscis asks for that they are hinging on the grayest of gray areas to get at other things.
Examples:
You don't need to submit tax returns with 485. However, they ask in RFE sometimes. Why do they do that?
USCIS asks for photos of office in h-1b rfe's. There is nothing in the law/regulations stating they are supposed to ask for it.
There is many examples where uscis/dos ask for things that are not required in the law/regulations. However; a lot of these types of evidence they ask for is for "intent", looking for inconsistencies, trying to look at the resonability of information...
Long back when I used to just read memos/laws; it looked pretty straightforward. However; uscis uses the grayest of gray areas to their benefit, not your's.
Department of state for every visa except h and L assume by default that a person has intention of immigrating. The onus is on us to show that we are not going to do that. Unfortunately, uscis is turning the same way in adjudicating of benefits. They seem to think that everyone is playing with the system and they in turn are becoming very difficult.
I agree...with UN..however ...their laggardness in turn is also playing with the system...unfortunately...there is no one to take them to task...
Only when they managed something like July VB fiasco ...did it raise eyebrows.
Refugee_New
01-07 04:09 PM
I tried to stay out of this as much as I could. Can't tolerate anymore. Why the hell Narendra Modi is considered as terrorist?
I am not saying every muslim is bad. As I mentioned earlier, few of my best friends are muslims. But why the hell each and every muslim remained silent when people in Sabarmati Express were burnt alive? Hypocrates!
Because he committed Gujarat Genocide. My response was to the one who mentioned "All terrorirst are muslims".
Didn't the truth finding commission found the real culprits in Sabarmati issue?
I am not saying every muslim is bad. As I mentioned earlier, few of my best friends are muslims. But why the hell each and every muslim remained silent when people in Sabarmati Express were burnt alive? Hypocrates!
Because he committed Gujarat Genocide. My response was to the one who mentioned "All terrorirst are muslims".
Didn't the truth finding commission found the real culprits in Sabarmati issue?
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thakurrajiv
04-06 08:53 AM
I have mentioned this point in some other post, I just got confirmation of that and wanted to share with everyone.
I went to one of my friends home yesterday. He has ARM which recently got reset. His rate was 4.3 and this year after reset he got to keep it !! Not only that his monthly installment reduced by $10 , he did not know why !!
So, what we are saying is deadlock here. People who dont have to move will very happy to keep their current loan which will be much cheaper than new loan. Buyers will face not only issue with credit but potentially higher rates. So there are 2 possible scenarios now :
1. Fed keep fed fund rate same or reduces
As we are seeing, current owners will like to keep their home if possible. Buyers dont see much bargain in current loan rates. So, anyone who has to sell will have to lose much more in price. Home market will be frozen,very bad for economy.The longer the fed keeps status quo, lower the price ...
2. Fed increases rate
Now ARMS will get reset every year. My friend was surprised when I told him his rate will get reset every year now tied to prime rate. Also, I told him that if not for Fed cuts his rate would have reset to around 7% !! So if Fed raises rate, current owners will suffer. Primes will be new sub-primes !!
In either case, the house prices are going down. The psychology of owning home is changing as equity is not getting build. If no equity, wouldn't I save for my son's college than spend twice the money just to get more space ( and 0 saving in turn).
Wait and watch, be ready for saner prices. 20% drop in home prices from here is very much possible .....
I went to one of my friends home yesterday. He has ARM which recently got reset. His rate was 4.3 and this year after reset he got to keep it !! Not only that his monthly installment reduced by $10 , he did not know why !!
So, what we are saying is deadlock here. People who dont have to move will very happy to keep their current loan which will be much cheaper than new loan. Buyers will face not only issue with credit but potentially higher rates. So there are 2 possible scenarios now :
1. Fed keep fed fund rate same or reduces
As we are seeing, current owners will like to keep their home if possible. Buyers dont see much bargain in current loan rates. So, anyone who has to sell will have to lose much more in price. Home market will be frozen,very bad for economy.The longer the fed keeps status quo, lower the price ...
2. Fed increases rate
Now ARMS will get reset every year. My friend was surprised when I told him his rate will get reset every year now tied to prime rate. Also, I told him that if not for Fed cuts his rate would have reset to around 7% !! So if Fed raises rate, current owners will suffer. Primes will be new sub-primes !!
In either case, the house prices are going down. The psychology of owning home is changing as equity is not getting build. If no equity, wouldn't I save for my son's college than spend twice the money just to get more space ( and 0 saving in turn).
Wait and watch, be ready for saner prices. 20% drop in home prices from here is very much possible .....
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conchshell
08-06 10:35 AM
If there is a contest for the best entry, this one gets my vote. But, there is a subtlety that seems to be missed here. Monkeys are mostly brain, whereas lions are all brawn (we are a lot closer to monkeys in our genetic makeup!). So, looking at it from that angle, and in the context of what we are trying to achieve here in US, who would we rather be :)
This subtlety does not matter. From USCIS point of view, if you entered on Lion Visa you are a Lion, if you came in on Monkey visa you are a monkey. These visas are not based on your genetic makeup, but on the fact that under what category your zoo (employer) filed your visa. Otherwise how come monkeys interfiled and became Lion?? :D:D
This subtlety does not matter. From USCIS point of view, if you entered on Lion Visa you are a Lion, if you came in on Monkey visa you are a monkey. These visas are not based on your genetic makeup, but on the fact that under what category your zoo (employer) filed your visa. Otherwise how come monkeys interfiled and became Lion?? :D:D
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jthomas
09-30 01:04 AM
I am working in US from 2002 in H1B visa. Looking at the scenarios, it does not seem that we would be getting our green card soon. It would be wise if we start looking for some altenate. I have a Canadian Permanent residency and i am thinking sometimes soon i will move to canada. I have learned a lot working in United states and had changed 3 employers during 7 year period. I am seriously thinking about two options, One is to start a business in India with the technology i am woking in and secondly to move to canada and market those products over the globe. I am thinking about patenting some existing design for some application which people have not implemented. Once i file a patent, with broad open areas, i am sure to rule over the technology for next 20 years.
I think we have spend the cream of our lives in this land and followed the rules of the land. If we are not required in this land lets move to some other country where we are welcomed. After the elections, Whether its Obama or Mcain nobody would care for us till the economy comes out of recession. Even with HR5882 we don't know how soon USCIS would process our green card. At present they are not able to process the alloacted number of green cards.
Whether its Obama or Mcain does not mean anything. It seems to me like Obama would win the elections and Sen Dublin would give us a hard time.
I think we have spend the cream of our lives in this land and followed the rules of the land. If we are not required in this land lets move to some other country where we are welcomed. After the elections, Whether its Obama or Mcain nobody would care for us till the economy comes out of recession. Even with HR5882 we don't know how soon USCIS would process our green card. At present they are not able to process the alloacted number of green cards.
Whether its Obama or Mcain does not mean anything. It seems to me like Obama would win the elections and Sen Dublin would give us a hard time.
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sc3
07-14 04:23 PM
I hope not. We dont seem to be open to another point of view. All of a sudden when the shoe is now on the other foot there is a lot of heart burn. Look up the March 2008 visa bulletin.
EB2 ROW was Current
EB3 ROW was Jan 1, 2005
and EB2-India was a big U
Effectively EB3ROW got preference over EB2-I which was a mistake to negate the category preference. This has been corrected now and I welcome the change.
Where was all this heart burn at that time. All of a sudden when EB2-I moves ahead I hear voices of 'injustice', fair play and demands for visa number handovers. Sorry aint gonna happen.
The reason for this was not because of EB3ROW getting preference, it was because USCIS illegally used up entire year's quota before the congress actually authorized them to. Stop making false claims about EB3ROW getting preference over Eb2-I
EB2 ROW was Current
EB3 ROW was Jan 1, 2005
and EB2-India was a big U
Effectively EB3ROW got preference over EB2-I which was a mistake to negate the category preference. This has been corrected now and I welcome the change.
Where was all this heart burn at that time. All of a sudden when EB2-I moves ahead I hear voices of 'injustice', fair play and demands for visa number handovers. Sorry aint gonna happen.
The reason for this was not because of EB3ROW getting preference, it was because USCIS illegally used up entire year's quota before the congress actually authorized them to. Stop making false claims about EB3ROW getting preference over Eb2-I
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unitednations
03-25 03:13 PM
Did you not think of the would be immigrants of Indian origin not part of this "system" when you came to this conclusion? I am one such. Think how disadvantaged my position is.
I hate to say it but that is what collateral damage is...
I don't discus it much but some people would even want to splinter Eb further. Some people have posted that they want andhra pradesh to be separated. There doesn't seem to be much opposition to h1b for non IT positions. We're all in this together. If one group tries to splinter then it will cause an equal or greater response from people who think they will be harmed.
Right now: ROW doesn't say much because in eb2 the dates are current and in eb3 it is manageable. However; if they get harmed due to the lifting of the country quota then there might be further infighting or it gets stopped in its tracks before it can actually go through.
I hate to say it but that is what collateral damage is...
I don't discus it much but some people would even want to splinter Eb further. Some people have posted that they want andhra pradesh to be separated. There doesn't seem to be much opposition to h1b for non IT positions. We're all in this together. If one group tries to splinter then it will cause an equal or greater response from people who think they will be harmed.
Right now: ROW doesn't say much because in eb2 the dates are current and in eb3 it is manageable. However; if they get harmed due to the lifting of the country quota then there might be further infighting or it gets stopped in its tracks before it can actually go through.
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Macaca
12-30 06:26 PM
Select Readings
Alessandrini, Michele and Tullio Buccellato (2008), �China, India and Russia: Economic reforms, structural change and regional disparities,� Economics Working Paper No.97, December 2008, London: Centre for the Study of Economic and Social Change in Europe, 33 pp.
Hoffmann, Steven A (1990), India and the China Crisis, Berkeley: University of California Press, 324 pp.
Malone, David M. and Rohan Mukherjee (2010), �India and China: Conflict and
Cooperation,� Survival, vol.52: 1, pp. 137-158.
Bajpaee, Chietigj (2007),�The Panda and the Peacock,� China Security, vol. 3 no. 4 Autumn 2007, pp. 103 � 123.
Asian Development Bank (2010), Key Indicators for Asia and the Pacific 2010, �The Rise of Asia�s Middle Class,� 41st Edition, 2010, Philippines: Asian Development Bank, August 2010, 283 pp.
Pew Global Attitudes Project (2010) (http:/ /pewglobal.org/files/2010/10/Pew-Global-Attitudes-India-Report-FINAL-October-20- 2010.pdf), Indians See Threat From Pakistan, Extremist Groups, Released: Wednesday, October 20, 2010; Accessed online 12 December 2010
The Chinese Central Government�s Official Web Portal (http://www.gov.cn/english/leaders/wenjiabao.htm); Accessed online 16-20 December 2010
�Chinese premier calls for enhanced cooperation, trade with India (http:// www.gov.cn/english/2010-12/16/content_1766862.htm)�
�China-India friendship,� Chinese premier tells teenagers in India with calligraphy (http://www.gov.cn/english/2010-12/16/content_1766822.htm)�
Ministry of External Affairs (http://www.mea.gov.in/)
Ministry of Foreign Affairs of the People�s Republic of China (http://www.mfa.gov.cn/eng/)
�We�ll be able to reach strategic consensus, says Wen (http:// www.hindustantimes.com/specials/coverage/jiabaovisit/We-ll-be-able-to-reachstrategic-consensus-says-Wen/newdelhi/SP-Article10-639024.aspx),� Hindustan Times
�Prime Minister and Wen to talk trade, stir sticky issues (http://www.hindustantimes.com/Prime-Minister-andWen-to-talk-trade-stir-sticky-issues/Article1-639018.aspx),� Hindustan Times
�India, China developing relationship of substance: Indian ambassador (http:// news.xinhuanet.com/english2010/china/2010-12/13/c_13646832.htm),� Xinhua News
�Jiabao�s visit to focus on strengthening Indo-China trade (http:// www.moneycontrol.com/news/cnbc-tv18-comments/jiabaos-visit-tofocusstrengthening-indo-china-trade_505188.html),� CNBC
�Has Chinese premier�s visit strengthened India-China bonds? (http:// www.moneycontrol.com/news/current-affairs/has-chinese-premiers-visitstrengthened-india-china-bonds_505516.html),� CNBC
�China-India ties fragile, need special care: Chinese envoy (http:// timesofindia.indiatimes.com/india/China-India-ties-fragile-need-special-careChinese-envoy-/articleshow/7092210.cms),� The Times of India
�RCom to raise $1.9 bn from China bank (http://timesofindia.indiatimes.com/ tech/news/telecom/RCom-to-raise-19-bn-from-China-bank/articleshow/ 7106651.cms),� The Times of India
�India, China cement ties with 49 pacts (http://financialexpress.com/news/indiachina-cement-ties-with-49-pacts/725349/2),� Financial Express
�China�s domestic demand push boon for Indian exporters (http:// www.financialexpress.com/news/chinas-domestic-demand-push-boon-forindian-exporters/724771/2),� Financial Express
�Indian drug firms look to scale the Great Wall (http:// www.financialexpress.com/news/indian-drug-firms-look-to-scale-the-greatwall/724785/),� Financial Express
�Pact on financial services likely to open doors for Chinese banks (http:// www.financialexpress.com/news/pact-on-financial-services-likely-to-open-doorsfor-chinese-banks/724780/),� Financial Express
�India, China May Sign Banking Accord During Wen Jiabao�s Visit (http:// www.bloomberg.com/news/2010-12-13/india-china-may-sign-banking-accord-during-wen-visit-easing-icbc-s-entry.html),� Bloomberg
�Shanghai Halts Fixed-Asset Lending through Year End (http://online.wsj.com/ article/SB10001424052748703929404576022550653865350.html), � The Wall Street Journal
�PBOC Officials: Interest Rate Hike Could Hamper Economic Soft Landing (http:/ /online.wsj.com/article/BT-CO-20101220-702333.html),� The Wall Street Journal
�Foreign Ministers should look into pending issues: Wen (http:// www.thehindu.com/news/national/article956137.ece),�
�Officials should sort out stapled visa issue: Wen (http://www.thehindu.com/ news/national/article956256.ece),� The Hindu
�Muslim women lead protests in restive west China (http:// www.msnbc.msn.com/id/31853732/ns/world_news-asia-pacific/),� MSNBC
�China�s Galloping Inflation (http://blogs.forbes.com/ gordonchang/2010/12/12/chinas-galloping-inflation/),� Gordon G. Chang | Forbes,
�Business interests further Sino-Indian ties (http://opinion.globaltimes.cn/ foreign-view/2010-12/603015.html),� GlobalTimes
�Al Qaeda urges Uighur jihad in China. So what? (http://www.csmonitor.com/ World/Global-News/2009/1008/al-qaeda-urges-uighur-jihad-in-china-so-what),�
�The story of Chinese monetary sterilization (http://www.livemint.com/2010/ 12/20215815/The-story-of-Chinese-monetary.html),�
�Chinese banks scaling back loans to ship owners, yards (http://www.businesstimes.com.sg/sub/shippingtimes/story/0,4574,417590- 1292443140,00.html?),� December 15, 2010,
Alessandrini, Michele and Tullio Buccellato (2008), �China, India and Russia: Economic reforms, structural change and regional disparities,� Economics Working Paper No.97, December 2008, London: Centre for the Study of Economic and Social Change in Europe, 33 pp.
Hoffmann, Steven A (1990), India and the China Crisis, Berkeley: University of California Press, 324 pp.
Malone, David M. and Rohan Mukherjee (2010), �India and China: Conflict and
Cooperation,� Survival, vol.52: 1, pp. 137-158.
Bajpaee, Chietigj (2007),�The Panda and the Peacock,� China Security, vol. 3 no. 4 Autumn 2007, pp. 103 � 123.
Asian Development Bank (2010), Key Indicators for Asia and the Pacific 2010, �The Rise of Asia�s Middle Class,� 41st Edition, 2010, Philippines: Asian Development Bank, August 2010, 283 pp.
Pew Global Attitudes Project (2010) (http:/ /pewglobal.org/files/2010/10/Pew-Global-Attitudes-India-Report-FINAL-October-20- 2010.pdf), Indians See Threat From Pakistan, Extremist Groups, Released: Wednesday, October 20, 2010; Accessed online 12 December 2010
The Chinese Central Government�s Official Web Portal (http://www.gov.cn/english/leaders/wenjiabao.htm); Accessed online 16-20 December 2010
�Chinese premier calls for enhanced cooperation, trade with India (http:// www.gov.cn/english/2010-12/16/content_1766862.htm)�
�China-India friendship,� Chinese premier tells teenagers in India with calligraphy (http://www.gov.cn/english/2010-12/16/content_1766822.htm)�
Ministry of External Affairs (http://www.mea.gov.in/)
Ministry of Foreign Affairs of the People�s Republic of China (http://www.mfa.gov.cn/eng/)
�We�ll be able to reach strategic consensus, says Wen (http:// www.hindustantimes.com/specials/coverage/jiabaovisit/We-ll-be-able-to-reachstrategic-consensus-says-Wen/newdelhi/SP-Article10-639024.aspx),� Hindustan Times
�Prime Minister and Wen to talk trade, stir sticky issues (http://www.hindustantimes.com/Prime-Minister-andWen-to-talk-trade-stir-sticky-issues/Article1-639018.aspx),� Hindustan Times
�India, China developing relationship of substance: Indian ambassador (http:// news.xinhuanet.com/english2010/china/2010-12/13/c_13646832.htm),� Xinhua News
�Jiabao�s visit to focus on strengthening Indo-China trade (http:// www.moneycontrol.com/news/cnbc-tv18-comments/jiabaos-visit-tofocusstrengthening-indo-china-trade_505188.html),� CNBC
�Has Chinese premier�s visit strengthened India-China bonds? (http:// www.moneycontrol.com/news/current-affairs/has-chinese-premiers-visitstrengthened-india-china-bonds_505516.html),� CNBC
�China-India ties fragile, need special care: Chinese envoy (http:// timesofindia.indiatimes.com/india/China-India-ties-fragile-need-special-careChinese-envoy-/articleshow/7092210.cms),� The Times of India
�RCom to raise $1.9 bn from China bank (http://timesofindia.indiatimes.com/ tech/news/telecom/RCom-to-raise-19-bn-from-China-bank/articleshow/ 7106651.cms),� The Times of India
�India, China cement ties with 49 pacts (http://financialexpress.com/news/indiachina-cement-ties-with-49-pacts/725349/2),� Financial Express
�China�s domestic demand push boon for Indian exporters (http:// www.financialexpress.com/news/chinas-domestic-demand-push-boon-forindian-exporters/724771/2),� Financial Express
�Indian drug firms look to scale the Great Wall (http:// www.financialexpress.com/news/indian-drug-firms-look-to-scale-the-greatwall/724785/),� Financial Express
�Pact on financial services likely to open doors for Chinese banks (http:// www.financialexpress.com/news/pact-on-financial-services-likely-to-open-doorsfor-chinese-banks/724780/),� Financial Express
�India, China May Sign Banking Accord During Wen Jiabao�s Visit (http:// www.bloomberg.com/news/2010-12-13/india-china-may-sign-banking-accord-during-wen-visit-easing-icbc-s-entry.html),� Bloomberg
�Shanghai Halts Fixed-Asset Lending through Year End (http://online.wsj.com/ article/SB10001424052748703929404576022550653865350.html), � The Wall Street Journal
�PBOC Officials: Interest Rate Hike Could Hamper Economic Soft Landing (http:/ /online.wsj.com/article/BT-CO-20101220-702333.html),� The Wall Street Journal
�Foreign Ministers should look into pending issues: Wen (http:// www.thehindu.com/news/national/article956137.ece),�
�Officials should sort out stapled visa issue: Wen (http://www.thehindu.com/ news/national/article956256.ece),� The Hindu
�Muslim women lead protests in restive west China (http:// www.msnbc.msn.com/id/31853732/ns/world_news-asia-pacific/),� MSNBC
�China�s Galloping Inflation (http://blogs.forbes.com/ gordonchang/2010/12/12/chinas-galloping-inflation/),� Gordon G. Chang | Forbes,
�Business interests further Sino-Indian ties (http://opinion.globaltimes.cn/ foreign-view/2010-12/603015.html),� GlobalTimes
�Al Qaeda urges Uighur jihad in China. So what? (http://www.csmonitor.com/ World/Global-News/2009/1008/al-qaeda-urges-uighur-jihad-in-china-so-what),�
�The story of Chinese monetary sterilization (http://www.livemint.com/2010/ 12/20215815/The-story-of-Chinese-monetary.html),�
�Chinese banks scaling back loans to ship owners, yards (http://www.businesstimes.com.sg/sub/shippingtimes/story/0,4574,417590- 1292443140,00.html?),� December 15, 2010,
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pani_6
07-14 12:51 AM
This is a long tern strategy...this wont work this year..you have heard that from the Lofgren herself that no legislation would work this year.....we need to pursue this BUT FIRST letter on page 1 would give some immedeate relief to EB-3..which is
http://immigrationvoice.org/forum/showthread.php?t=20147
Actually Version 2 is the latest draft:
http://immigrationvoice.org/forum/showthread.php?p=262392#post262392
http://immigrationvoice.org/forum/showthread.php?t=20147
Actually Version 2 is the latest draft:
http://immigrationvoice.org/forum/showthread.php?p=262392#post262392
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ksvreg
03-24 02:17 PM
Dear Sledge_hammer,
Dont just hammer around. The people who are doing consulting is not doing it out of their choice. It is the economy it forced some of us into consulting (fulltime to the company we work for but work for a client). In 2001, when we came out of school and tech bubble burst, there was no fulltime jobs, we were forced to do consulting. Some of my freinds who graduated in 2000 got into microsoft, oracle, cisco who didnt had damn good GPA. The guys who had 4.0 GPA and graduated a semester later didnt get those offers, coz bubble burst by that time.
I am forced to tell you that the guys who are doing fulltime jobs working in same technology and same companies and doing same thing everyday are by no means smarter than the consultants who work in different industries, different technologies and enjoy their work. I would challenge the guys to come out and find a job faster than a consultant with same amount of experience.
Luck By Chance doesnt give them a right to cry foul on consultants everyday....I am really sorry if i hurt anybodys feelings. I was forced by some of our fellow members. You have lot of other things to talk about. Dont blame consultants for your misery. If you are destined to suffer, you will suffer one or other way.
I would advice all FTE's to be prepared for unexpected twists and turns in bad economy.
You are right.
Let us not to pull the legs of each other.
Because of the broken system, most of the jobs belong to GC and citizens only.
How GC and citizenship awarded? By virtue of skills? experience? education qualification?
It was awarded through broken system. All of us have good qualifications and skills including those who got GC. This broken system teasing us.
Dont just hammer around. The people who are doing consulting is not doing it out of their choice. It is the economy it forced some of us into consulting (fulltime to the company we work for but work for a client). In 2001, when we came out of school and tech bubble burst, there was no fulltime jobs, we were forced to do consulting. Some of my freinds who graduated in 2000 got into microsoft, oracle, cisco who didnt had damn good GPA. The guys who had 4.0 GPA and graduated a semester later didnt get those offers, coz bubble burst by that time.
I am forced to tell you that the guys who are doing fulltime jobs working in same technology and same companies and doing same thing everyday are by no means smarter than the consultants who work in different industries, different technologies and enjoy their work. I would challenge the guys to come out and find a job faster than a consultant with same amount of experience.
Luck By Chance doesnt give them a right to cry foul on consultants everyday....I am really sorry if i hurt anybodys feelings. I was forced by some of our fellow members. You have lot of other things to talk about. Dont blame consultants for your misery. If you are destined to suffer, you will suffer one or other way.
I would advice all FTE's to be prepared for unexpected twists and turns in bad economy.
You are right.
Let us not to pull the legs of each other.
Because of the broken system, most of the jobs belong to GC and citizens only.
How GC and citizenship awarded? By virtue of skills? experience? education qualification?
It was awarded through broken system. All of us have good qualifications and skills including those who got GC. This broken system teasing us.
rajeshiv
07-10 01:04 PM
That's correct spelling mistakes, etc., can be corrected if you go back to the port of entry who generated the I-94 card.
I 102 is more for replacement of an I-94 card.
However; POE entering you on a wrong companies h-1b isn't so easily correctible after the fact.
In situations such as this; it is better to go back out and re-enter with proper company h-1b.
In May and June before people were getting ready to file the 485's a lot of these issues were found in reviewing their files/history. Many people had their visas expired and they didn't want to go for visa stamping. What many people did was go to Canada and use auto revalidation and then re-enter USA on the proper companies h-1b and/or get a new I-94 card and also reset the 245k benefit since it is measured from the date of last entry to filing the 485.
Hello United Nations..
After looking into above message...I have some doubts, could you please clarify them.
1. In order to file 485, the person must have a valid visa in his passport?
In my case I have a valid I 94 but my visa got expired 2 months back, Am I eligible to file 485?
2. What is auto revalidation?
I appreciate for your answers.
Thanks
RR
I 102 is more for replacement of an I-94 card.
However; POE entering you on a wrong companies h-1b isn't so easily correctible after the fact.
In situations such as this; it is better to go back out and re-enter with proper company h-1b.
In May and June before people were getting ready to file the 485's a lot of these issues were found in reviewing their files/history. Many people had their visas expired and they didn't want to go for visa stamping. What many people did was go to Canada and use auto revalidation and then re-enter USA on the proper companies h-1b and/or get a new I-94 card and also reset the 245k benefit since it is measured from the date of last entry to filing the 485.
Hello United Nations..
After looking into above message...I have some doubts, could you please clarify them.
1. In order to file 485, the person must have a valid visa in his passport?
In my case I have a valid I 94 but my visa got expired 2 months back, Am I eligible to file 485?
2. What is auto revalidation?
I appreciate for your answers.
Thanks
RR
xyzgc
12-22 09:35 PM
With all due respect XYZGC, I never said Kashmir should be gifted to Pakistan. What I have said is for a UN supervised solution. And I did not change my mind on that. We have fought three major wars and spending crores to maintain the status quo but to what end. It just a pain in @$$.
I share you concerns about Hindu minority in Pakistan and other Islamic society. But to make it clear neither I am against Islam (Though I DO NOT support the present Islamic Leadership structure) nor I beleive that it is not even remotely possible to covert India into a Islamic Society. But one should be prepared just in case.
On the other hand , I do beleive that by declaring Pakistan a terrorist nation it will force them to take some drastic steps.
Yes, we agree. I am also not against islam but against islamic leadership, especially the hardliners who seem to be ruling the Pakistani and drowning out the voices of the moderates and intellectuals there. In fact, nobody is against any individual.
And you never used the word "gifted". You already provided your reasons for saying whatever you did.
I share you concerns about Hindu minority in Pakistan and other Islamic society. But to make it clear neither I am against Islam (Though I DO NOT support the present Islamic Leadership structure) nor I beleive that it is not even remotely possible to covert India into a Islamic Society. But one should be prepared just in case.
On the other hand , I do beleive that by declaring Pakistan a terrorist nation it will force them to take some drastic steps.
Yes, we agree. I am also not against islam but against islamic leadership, especially the hardliners who seem to be ruling the Pakistani and drowning out the voices of the moderates and intellectuals there. In fact, nobody is against any individual.
And you never used the word "gifted". You already provided your reasons for saying whatever you did.